Olo Inc. (NYSE:OLO) Short Interest Update

Olo Inc. (NYSE:OLO - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 3,820,000 shares, a growth of 17.9% from the March 15th total of 3,240,000 shares. Based on an average daily trading volume, of 1,310,000 shares, the short-interest ratio is presently 2.9 days. Currently, 3.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On OLO

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in OLO by 173.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 100,286 shares of the company's stock valued at $606,000 after purchasing an additional 63,678 shares during the period. Diversified Trust Co raised its position in OLO by 12.8% during the first quarter. Diversified Trust Co now owns 33,343 shares of the company's stock valued at $201,000 after buying an additional 3,793 shares during the period. Asset Management One Co. Ltd. purchased a new stake in OLO in the 1st quarter worth about $265,000. SMI Advisory Services LLC acquired a new stake in OLO during the 1st quarter worth about $62,000. Finally, California State Teachers Retirement System grew its stake in OLO by 2.8% during the 4th quarter. California State Teachers Retirement System now owns 97,847 shares of the company's stock valued at $751,000 after acquiring an additional 2,666 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLO. Royal Bank of Canada increased their price objective on shares of OLO from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. StockNews.com lowered OLO from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Piper Sandler restated a "neutral" rating and issued a $8.00 price objective on shares of OLO in a report on Wednesday, January 8th.

OLO Price Performance

Shares of NYSE:OLO traded up $0.03 on Friday, reaching $6.25. 647,066 shares of the company traded hands, compared to its average volume of 1,172,213. The stock has a market capitalization of $1.04 billion, a PE ratio of -62.49 and a beta of 1.42. The company's 50 day moving average is $6.31 and its 200-day moving average is $6.64. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $8.35.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The company had revenue of $76.07 million during the quarter, compared to analyst estimates of $72.76 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. As a group, analysts expect that OLO will post -0.03 EPS for the current year.

OLO Company Profile

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.